NEW YORK, Dec 26- The dollar rose against the yen and euro on Friday in scant volume, with many major markets still closed after the Christmas holiday. There's going to be a dip-buying mentality "said Rob Zukowski, senior technical analyst at 4 Cast Ltd. based in New York. Data on Tuesday that showed the U.S. economy growing at its fastest quarterly pace in 11 years...» Read More
The U.S. dollar slipped Monday against the euro but edged up against the British pound ahead of European Central Bank and Bank of England meetings later this week.
For the week ending Friday, May 9, 2008, the U.S. Markets were negative for the week, with the Dow falling more than 200 points on Wednesday, making it the biggest point drop since 4/11/08.
The dollar climbed to two-month peaks against the yen and a basket of currencies on Friday after a government report showed the U.S. economy shed just 20,000 jobs in April, fewer than economists had expected.
The dollar rose to fresh five-week highs against the euro Thursday after a survey showed a key U.S. manufacturing index for April came in slightly better than expected.
The currency trade has become increasingly popular as stock markets continue to move sideways and safe-haven government-backed bonds offer low yields.
Jon Najarian on what trades to stay away from after the Fed decision and which stocks to watch ahead of earnings.
The dollar reversed gains against the euro on Wednesday as traders concluded that the Federal Reserve's statement after its policy meeting left the door open for further interest rates cuts.
Chinese exporters are starting to ask European customers to pay in euros, The New York Times reports.
The dollar rose to its highest against the euro in nearly a month Tuesday as expectations grew that the Federal Reserve will soon signal the end of its easing campaign, with weak European data denting interest rate sentiment in the region.
The dollar's rally stalled on Monday as investors bought euros to square up positions ahead of a key policy meeting by the U.S. central bank later this week.
For this Green Week ending, April 25, 2008 the US Markets ended the week slightly to the upside driven by a comeback in the dollar, a streak of records for crude oil, better than expected jobless claims, 26-year low consumer sentiment, surprise earnings, and a 10 point victory for Hillary Clinton in the Pennsylvania Democratic primary.
The dollar traded at three-week highs against the euro Friday, boosted by a growing view the Federal Reserve may stop cutting interest rates soon.
The dollar rose broadly Thursday after government data showed signs of resilience in the U.S. labor market, while a key consumer confidence measure in Germany plunged, weighing on the European currency.
The euro had its biggest drop against the U.S. dollar in three weeks Wednesday, as soft economic data and comment from European policy-makers indicated the weaker U.S. currency is hurting euro zone economic growth.
The euro roared to another record high Tuesday, crossing $1.60 in late afternoon trading in Europe after a pair of ECB governors said high inflation may cause the bank to raise interest rates.
The dollar fell broadly on Monday after weaker-than-expected Bank of America profits damped investors' initial optimism that companies may escape the pinch of the crisis in global credit markets.
Wage and fiscal policy in the euro zone could buoy inflation and the European Central Bank may need to act on interest rates, ECB policymaker Axel Weber said in a newspaper interview released on Saturday.
For the week ending Friday, April 18, 2008 the US Markets ended the week rallying on earnings news. The Dow had its best week since Feb 1 and rallied 256.8 points on Wednesday and another 228.87 points on Friday, for its biggest point gains since April 1st.
The dollar touched a seven-week high against the yen and pulled further away from a record low versus the euro Friday after Citigroup earnings contained less damage from the crisis in credit markets than some had expected.
The euro cannot replace the dollar as the world's main reserve currency, and a system of two reserve currencies would be unstable, billionaire investor George Soros said on Thursday.